Philippines Trade Data analyses the country's actual export and import industry situation by providing facts on importers, exporters, financial firms, logistics providers, and other community businesses. The country has a total export of around 67,487,668.30 thousands of US dollars and total imports of around 115,038,016.45 in thousands of US dollars. The trade growth that the country has is 2.84% while compared to that of the world growth of 3.50%. Philippines imports of services and goods in GDP percentage is 44.37% whereas the exports of goods and services as a percentage is 31.68%.
From the perspective of the country, Philippines Import Data states that the largest import source of commodities of Philippines is China which has a shared value of 19.6% of the total imports. In 2018, according to shipment data of the Philippines, goods worth 22 billion USD were shipped by China. It was followed by South Korea, which had a USD value of 11 billion. Since around 2018, Asian countries accounted for 79 percent of the Philippines' overall imports by volume. As per the year 2019, the product import the country has made is around 127 billion US Dollars. The per capita product imports made was $1.17k and the service import was 26.7 billion US dollars. In 2019, this country became the world's largest importer of tea extracts and coffee with around $653 million in value and a copra of $19.2 million. The top imports that the Philippines has to include integrated circuits of $12.7 billion, refined petroleum of $8.18 billion, cars of $3.34 billion, crude petroleum, and broadcasting equipment.
Philippines Export Data shows that the export partners around 66.7% are from Filipino exports done to Asian countries while 17.4% are to North America importers. The country as per the year 2018, shipped goods that worth 10 billion USD to the United States, which is followed then by Hong Kong, China with around 9.5 billion USD, and Japan with 9.4 billion USD value. The product exports made by the country were around 86.6 billion US dollars in 2019. The Philippines' service exports totaled 64.2 billion US dollars, with per capita commodity exports floating about $801k. The top exports that the country has include integrated circuits, machine parts of the office, semiconductor devices. The exporting processes are done mostly to China with $13.6 billion, the United States with $12.8 billion, Japan with $10.8 billion, Hong Kong, and Singapore.